Geithner Wrote Libor Memo in 2008

By

Damian Paletta And

Jon Hilsenrath

Updated July 12, 2012 11:18 p.m. ET

WASHINGTON—Timothy Geithner in 2008 sent a private memo to Bank of England Governor Mervyn King calling for six changes that he said would improve the credibility and integrity of the London interbank offered rate, a key interest rate that is now at the center of a international banking scandal, according to documents reviewed by the Wall Street Journal.

At the time the memo was sent, Mr. Geithner was president of the Federal Reserve Bank of New York and the financial industry was about to enter one of the darkest...